TMK, or Pipe Metallurgical Co, one of the world's leading producers of steel pipes for the oil and gas sector, has acquired a controlling stake in Oman’s Gulf International Pipe Industry after six months of talks. Among the countries that import GIPI’s tubular products are Egypt, U.S. and major oil producers in the Gulf states.

      

“The acquisition of the plant in Oman fits into TMK’s development strategy as a global supplier for the oil and gas sector. The move will strengthen TMK’s positions in the Middle East by adding production facilities to its existing sales organization,” said the company’s CEO Alexander Shiryaev.

      

Founded in 2001, TMK has been a long-standing partner of Gazprom, Transneft, Lukoil, Rosneft, TNK-BP and other industry leaders.

      

Author: Mikhail Vesely

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